Australia is negotiating the purchase of millions of barrels of oil from the US.

In an effort to boost the nation’s dangerously low domestic fuel stocks, the Morrison government has contacted the Trump administration about tapping into its Strategic Petroleum Reserve.

“The Government has undertaken this new initiative since the election to ensure that we continue to deliver increased security for Australians,” Energy Minister Angus Taylor told The Sydney Morning Herald.

“Access through a contractual arrangement would greatly boost our stocks and flexibility of supply.”

Australia and the US have a standing deal that allows them to boost immediate fuel levels in return for an equal amount of higher quality oil down the line.

The International Energy Agency treaty includes a requirement for signatories to hold a 90-day supply of oil. Australia currently has about 28 days' supply.

Mr Taylor wants those rules rewritten to take into account oil in transit to Australia.

“A modernised mechanism, that includes oil stocks in transit to Australia combined with our other fuel security initiatives, would mean that as of May 2019 we are compliant at 92 days of stock,” he said.

Independent MP Andrew Wilkie says it is not a solution.

“The government is cooking the books. The only way in which our fuel reserves will be boosted is on a balance sheet,” he said in a statement.

“It also relies on the goodwill of the US, but Donald Trump can't be trusted to honour agreements at the best of times, particularly if there was a global shock and we actually needed to access this oil.”

The government launched a review of Australia’s fuel security in mid-2018, but its findings have not yet been released.